Company Financials
Wednesday, May 21, 2014
HNI Corporation
MUSCATINE, IA — HNI Corp. announced first quarter net sales of $452.2 million for the quarter ending March 29, 2014, an increase of $9.9 million, or 2.2 percent, compared to the same quarter last year. The change was driven by an increase in hearth product sales as well as an increase in office furniture sales in the contract channel.
First quarter 2014 new sales for the hearth products segment increased 22.7 percent or $17.4 million to $93.8 million from $76.5 million for the same quarter last year. The increase was driven by an increase in both the new construction channel due to housing market recovery and the remodel-retrofit channel due to strong remodeling activity and demand for alternative fuel products.
Operating profit prior to unallocated corporate expenses increased $8.1 million to $11.7 million compared to $3.6 million in the prior year quarter due to increased volume and higher price realization offset partially by higher incentive-based compensation.
Restoration Hardware
CORTE MADERA, CA — Restoration Hardware Holdings, Inc. (RH) announced that for fiscal year 2013 ending Feb. 1, 2014, net revenues increased $357.9 million, or 30.0 percent, to $1,551.0 million compared to $1,193.0 million for fiscal year 2012. The company had 70 and 71 retail stores open at Feb. 1, 2014 and February 2, 2013, respectively. Store sales increased $175.1 million, or 27.2 percent, to $818.4 million in fiscal 2013 compared to $643.3 million in fiscal 2012 due in large part to comparable store sales increase of 27.0 percent in fiscal 2013 compared to fiscal 2012.
Direct sales increased $182.8 million, or 33.3 percent, to $732.6 million in fiscal 2013 compared to $549.7 million in fiscal 2012. Comparable brand revenue growth increased by 31.0 percent in fiscal 2013 compared to fiscal 2012. The company believes the increase in comparable brand revenue, comparable store sales and direct sales was due primarily to customers’ favorable reaction to merchandise assortment, including the expansion of existing product categories, and the introduction of new product categories.
MUSCATINE, IA — HNI Corp. announced first quarter net sales of $452.2 million for the quarter ending March 29, 2014, an increase of $9.9 million, or 2.2 percent, compared to the same quarter last year. The change was driven by an increase in hearth product sales as well as an increase in office furniture sales in the contract channel.
First quarter 2014 new sales for the hearth products segment increased 22.7 percent or $17.4 million to $93.8 million from $76.5 million for the same quarter last year. The increase was driven by an increase in both the new construction channel due to housing market recovery and the remodel-retrofit channel due to strong remodeling activity and demand for alternative fuel products. Operating profit prior to unallocated corporate expenses increased $8.1 million to $11.7 million compared to $3.6 million in the prior year quarter due to increased volume and higher price realization offset partially by higher incentive-based compensation.
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Restoration Hardware
CORTE MADERA, CA — Restoration Hardware Holdings, Inc. (RH) announced that for fiscal year 2013 ending Feb. 1, 2014, net revenues increased $357.9 million, or 30.0 percent, to $1,551.0 million compared to $1,193.0 million for fiscal year 2012. The company had 70 and 71 retail stores open at Feb. 1, 2014 and February 2, 2013, respectively. Store sales increased $175.1 million, or 27.2 percent, to $818.4 million in fiscal 2013 compared to $643.3 million in fiscal 2012 due in large part to comparable store sales increase of 27.0 percent in fiscal 2013 compared to fiscal 2012.
Direct sales increased $182.8 million, or 33.3 percent, to $732.6 million in fiscal 2013 compared to $549.7 million in fiscal 2012. Comparable brand revenue growth increased by 31.0 percent in fiscal 2013 compared to fiscal 2012. The company believes the increase in comparable brand revenue, comparable store sales and direct sales was due primarily to customers’ favorable reaction to merchandise assortment, including the expansion of existing product categories, and the introduction of new product categories.Visit the website.
